House Financial Services Committee

A bill that would ensure fintechs can continue to partner with banks to make loans at interest rates that exceed state caps drew some bipartisan support on Wednesday, despite opposition by consumer groups.

Democrats' victories in Virginia and New Jersey fueled speculation that they may be able retake the House during midterm elections next year. That could have a big impact on regulatory relief, housing finance reform and other priorities for banks and credit unions.

Democrats' recent electoral victories signal that they may be able retake the House during midterm elections next year. That could have a big impact on regulatory relief, housing finance reform and other bank priorities.

In a somewhat surprising decision, House Financial Services Committee Chairman Jeb Hensarling announced his retirement from Congress on Tuesday, but speculation immediately grew that he could fill a regulatory post.

A bill backed by House Democrats would establish a process to review big banks for patterns of consumer violations, ending possibly in culpable institutions losing their charter.

Though FHFA Director Mel Watt stopped short of saying he would break with a Treasury agreement that forces all profits of the GSEs to go to the government, he emphasized that it couldn’t continue indefinitely.

The GOP inquiry appears aimed at providing more ammunition for potentially ousting Director Richard Cordray, but the report's impact may be limited.

Consumer Financial Protection Bureau Director Richard Cordray allegedly misled Congress about the agency's investigation into Wells Fargo's illegal sales practices and may have rushed a settlement with the bank, according to a report by the GOP.

A mishmash of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution.

Staff for House Financial Services Committee Chairman Jeb Hensarling said CFPB Director Richard Cordray is continuing to ignore subpoenas tied to the agency's work on the arbitration rule.

Democrats on the House and Senate banking committees are urging Republicans to hold hearings with Wells Fargo's top executives over its phony-accounts and force-placed insurance scandals.

House and Senate lawmakers formally filed resolutions on Thursday to repeal the Consumer Financial Protection Bureau's arbitration rule, but there were early signs that enacting them may prove challenging.

House Republicans are ramping up their criticism of the Fed for making interest payments to member banks on excess reserves, and may have identified a way to counter claims that the payments are critical to monetary policy.

House Financial Services Committee Chairman Jeb Hensarling continued the drumbeat of Republican attacks on Consumer Financial Protection Bureau Director Richard Cordray.

For Democrats, the scandal is a prominent symbol of big-bank misbehavior, while Republicans want to use it to show the shortcomings of the CFPB.

Ahead of the House vote Thursday on the Financial Choice Act, the two parties were assailing each other as proxies for Wall Street and painting themselves as defenders of community banking and the consumer.

The Congressional Budget Office said only community banks would choose to hold higher capital in return for fewer rules while lowering its estimate of cost savings of eliminating new FDIC resolution powers.

The House Financial Services Committee approved the Financial Choice Act by 34 to 26. While it has enough support to clear the GOP-controlled House, it is unlikely to gain traction in the Senate.

The House Financial Services Committee began debate Tuesday on a sweeping regulatory reform bill, yet while it is expected to pass on party lines, few expect it to stand a chance in the Senate.

The financial press looks at possible ramifications from Jes Staley's attempt to unmask a whistleblower at the British bank; why has the digital currency failed to live up to eight years of hype?